Sands does it again despite hard times March 3, 2010 IT’S almost impossible to believe. Despite the worst recession in a generation and the near-implosion of the global banking sector, Standard Chartered yesterday celebrated a seventh consecutive year of growth. Shrugging off the contraction in worldwide GDP, the Asia-focused bank booked record profits of $5.1bn (£3.4bn) thanks to strong performances from Hong Kong and India. [...]
Adam Crozier still has serious problems to sort March 3, 2010 ITV was in a bullish mood yesterday, reporting a return to the black and predicting a revival in the advertising market. Hot shot chief executive-elect Adam Crozier will join from Royal Mail at the end of April, when he will launch a strategic review that will solve the free-to-air broadcaster’s troubles. The worst is over. [...]
Investment banking is star of show February 25, 2010 IT looks like Stephen Hester deserved his £1.6m bonus after all. Yesterday, the bank delivered a stronger-than-expected set of numbers, even if the mainstream media continued to fixate on the government’s decision to rubber stamp bonus payments for staff. Analysts at Nomura think RBS could end up back in the black before this year is [...]
The Walbrook is about to strike gold February 23, 2010 FOR those who like playing the waiting game, Minerva is a good bet. As expected, it swung to a profit while its net asset value (NAV) per share also continued to edge up, to 102p in December from 95p a month earlier. There were no major letting announcements, however, which will come as a surprise [...]
Tories under siege as polls show Labour closing gap February 22, 2010 WHAT a difference a couple of months can make. At the start of 2010, the Tories looked unassailable, with a consistent ten point lead in the opinion polls that would have translated into an outright majority at the election. Labour was imploding, while Gordon Brown was fighting yet another coup attempt, the terribly-planned “snow plot” [...]
Apple leads the way on mobile phone design February 17, 2010 Apple is casting a long shadow over this year’s Mobile World Congress. The iPhone maker isn’t in attendance – it is far too cool for an annual trade fair – but its name is still on everyone’s lips. For a firm that has just 2.5 per cent of the mobile handset market, its ability to [...]
Voser could still win long game February 4, 2010 IF investors were surprised by BP’s sub-par results earlier in the week, they should have been prepared for Royal Dutch Shell’s dismal numbers. Still, the near $1bn net loss at its refining business was eye watering. It is struggling against the worst downstream conditions in twenty years, as a slump in demand comes hot on [...]
Italian reservist Colao must hold his nerve February 4, 2010 VODAFONE boss Vittorio Colao is a renowned cost cutter, but yesterday’s results were all about the top line. The world’s largest mobile operator by revenues has to prove that it is still a high-growth company and not a dependable utility. For that reason, investors will be relieved that the group booked revenues of £11.5bn, up [...]
Butterfield’s the toast as Premier sides crash out February 2, 2010 CRYSTAL PALACE 3 WOLVES 1 DANNY BUTTERFIELD enjoyed the night of his life as his seven-minute hat-trick earned cash-strapped Crystal Palace a money-spinning tie with Aston Villa. The Eagles were docked ten league points after slipping into administration last week, but Butterfield, who hadn’t scored in over a year before last night, handed his side [...]
Awful airline, great stock February 1, 2010 AWFUL airline, great stock. Ryanair might be the bête noire of the chattering classes, but Michael O’Leary’s low-cost carrier is attracting enough customers without them. Its passenger numbers were up 14 per cent to 16m in the third quarter, a traditionally dire time for airlines. Revenues lagged behind, edging up one per cent as yields [...]